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- Bonk price has surged by 180% in the last 17 days.
- Its trading volume has outpaced ETH and SOL on the Upbit exchange.
- The BONK price is claimed to be 7th in terms of the highest traded cryptocurrency.
Bonk (BONK) crypto has shown notable elevation in its trading volume. It has surpassed so many coins in terms of trading volume and massive market value.
The Bonk coin price surged by 159% in November, showcasing buyers’ domination. The bullish rally weakened near the $0.0000500 territory and displayed price rejection from the upside.
The cryptocurrency market is buzzing nowadays, and BTC has recorded ATH recently. As a result, the BONK price was wandering in the all-time high (ATH) territory.
At press time, the meme coin was ranking 30th in the cryptocurrency market in terms of market value. Moreover, the token is also good in terms of trading volume.
Technical Analysis of BONK Coin Price Over 1-D Timeframe
When writing, the Bonk coin was trading at $0.0000513, with an intraday loss of 4.66%. Its market capitalization was $3.84 Billion, and the 24-hour trading volume was $1.35 Billion.
On a broader time frame, the Bonk coin price displayed a massive breakout from a triangle pattern. It has recorded a new ATH on November 20. Weakness on top demonstrated mild profit booking.
Suppose the price manages to hold over the $0.0000500 hurdle; it could be a bullish sign. If the price surpasses the recent with strong bullish marubozu candlestick, it could skyrocket further. It can potentially remove one zero from its price amid this bull run.
Conversely, profit booking can be seen if bears win the battle at the top. If the price loses the $0.0000450 mark, sellers may dominate. Moreover, a bearish trend can be seen.
According to the technical indicators, the MACD and the Signal line have stayed far over the Zero line. The histograms have remained green, which highlighted buyers’ grip.
Bull Run in Bonk Coin Price On Its Way?
Kedense, a cryptocurrency analyst, believes that the BONK price may increase further. The previous resistance level has flipped to support, which could be a key factor for a bull run. Buyers may remain in the game for the next few weeks or months if the price is sustained at this level.
The trading volume has witnessed immense growth. That demonstrated the new players’ involvement.
The next bullish momentum can be huge if the Bonk coin price remains over the recent high before another bull run. The recent market sentiment could be a catalyst for further momentum.
Bonk Coin’s Recent Surge and Market Position
Bonk coin has demonstrated remarkable growth and trading activity in recent weeks. This was marked by a significant price surge and increased market interest.
With its recent performance, Bonk has carved out a notable position in the market. The token has particularly eclipsed trading volumes of major cryptocurrencies like ETH and SOL on the Upbit exchange.
Investors should closely watch the critical price thresholds, particularly the $0.0000500 and $0.0000450 marks.
This will likely dictate the future trajectory of the BONK price amidst overall market volatility. The prevailing buyer sentiment, indicated by strong MACD signals, supported further upside potential.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
